Question

Norman and Suzanne own 32 shares of a fast food restaurant stock and 60 shares of a toy company stock. At the close of the markets on a particular day in​ 2004, their stock portfolio consisting of these two stocks was worth ​$1182.00. The closing price of the fast food restaurant stock was ​$24 more per share than the closing price of the toy company stock on that day. What was the closing price of each stock on that​ day?

Answer 1

38(x+24)+64x=1,779
38x+912+64x=1,779
102x=1,779-912
102x=867
x=867/102


x=8.50 ans. for the value of the toy company stock.
8.50+24=32.50 ans. for the value of the fast food stock.
Proof:
38*32.50+64*8.50=1,779
1,235+544=1,779
1,779=1,779